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Sem. in American Politics

by: Mr. Mauricio Muller

Sem. in American Politics POLS 5630

Mr. Mauricio Muller
GPA 3.53

Lois Duke-Whitaker

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Lois Duke-Whitaker
Class Notes
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This 4 page Class Notes was uploaded by Mr. Mauricio Muller on Monday October 12, 2015. The Class Notes belongs to POLS 5630 at Georgia Southern University taught by Lois Duke-Whitaker in Fall. Since its upload, it has received 33 views. For similar materials see /class/222058/pols-5630-georgia-southern-university in Political Science at Georgia Southern University.


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Date Created: 10/12/15
Chapter 7 Economic Policy 0 The politics of economic policy150159 O O O O O O O O 0 Problem for the theory is to specify when congress enacts responsible economic policy and those under which it adopts less responsible policies Congress makes macroeconomic policy when it decides how large the deficit should be Every policy that congress considers has both a macroeconomic component and a noneconomic component I An explicit economic policy is a policy that someone proposes in an effort to solve a specific macroeconomic problem I Derivative economic policies I For derivative economic policies legislators pay greater attention to the noneconomic components which are usually much smaller I For explicit they focus on economic policy Derivative policy calculations depend on 0 Size of economic effects 0 State of economy 0 Nature of current fiscal policy Presidents label certain votes as budget busters to heighten legislators attention to economic components of a policy and provides campaign issues to be used against those who fail to heed the warnings Legislators get held accountable when dealing with explicit econ policy If you vote against a president s recovery program and it doesn t pass you can be blamed if the economy doesn t improve for not providing another way to improve it or you can take credit if you voted for it and economy improves or blame president for not offering an adequate program Similar Logic is used in giving the president standby authority with price control Candidates never know what economic issues will arise in the next election that they will be blamed for Legislators evaluate policy options based on how policy options are packaged o Balanced Budgets156159 O O O O O Executives are better at balancing budgets than legislators because they are held accountable for everything by everyone and legislators are only held accountable by their constituents Executives deserve fair share of blame for deficits Ex Reagan doubled it in 5 years Congress is fiscally more conservative Total spending reflects president s requests I Pg 157 provides analysis of how congress and the president created first modest and then massive deficits 3 factors contribute to government balanced budget between 19461961 Most citizens and politicians believed people should balance budgets except in years of war and depression Presidents proposed balanced budgets to congress House appropriations committee evolved into a careful watchdog of treasury allowing expenditures to grow only within revenue constraint it had conservative members and had no special group or geographic interest at stake House operated under a system of rules that made it easy to propose an amendment but very difficult to demand a roll call vote Fiscal activism159166 They were able to convince the business community to support the tax cuts because it 0 000000 0 O O O O O 0 could spur the economy Conservatives preferred reducing taxes to increasing spending If the program failed put the blame on the president if not they take credit Helped focus on group benefits despite economic rationale or short term benefits Fiscal activists beast fiscal conservatives on every count Fiscal activists predicted economy and it gave them credibility in Washington Congressional systems for making budgets made sure legislators never had to vote in favor of deficits they voted on parts of the budget never on the whole Fiscal activists failed to mention that cutting taxes could easily be followed by raising taxes President Johnson proposed a tax increase on corporations and personal income taxes but congress didn t want the burden to fall on tax payers because legislators are exempt from it Pg 165166 explains how they passed a bill and gives explanations they could use for constituents because there one vote could be traced back to them Inflation and Stagnation166177 Economists couldn t explain why inflation and unemployment persisted and worsened over time President had to prose a budget every year and congress had to pass one but economists offered little consistent advice so it was up to the president to decide which economic theory to use How did the federal government manage to accrue such large and regular deficits President s proposed unbalanced budgets Congress increased presidents proposed expenditures or decreased recommended revenues Budgetary experts predicted poorly the course of the future economy Presidents deserve the largest share of credit for the deficits All three presidents delivered and justified their budgets in Keynesian terms Congress approved all presidential requests to incur deficit spending during this period so production of deficit was in every way a joint endeavor Congress was fiscally more conservative of the 2 branches Why didn t congress spend money to the proposed ceiling of the presidents proposal The first line of defense was the house appropriations committee It wasn t the same as before in the 50 s and 60 s because they weren t filled with disinterested members Committee chairmen were now elected by a democratic caucus and their doors were now unlocked so journalists interest groups and others could watch deliberation The second line of defense was the floor of the house where legislators could either accept or revise the committees decisions This too had fundamental changes The Legislative Reorganization Act of 1970 allowed 20 or more members to demand a roll call vote of any matter before the committee as a whole It made it easier because before you needed 40 members and it had to be passed and voted on before Another theory on whether when there is a roll call legislatures are more inclined to increase spending over committee recommendations than to reduce it 0 Vote on individual expenditure programs they are biased in favor of increased spending because group and geographic effects are more traceable than macroeconomic effects 0 Ex 1 increase across the board reduction in federal spending causes legislators to fear connection with macroeconomic effects than with vague distant programmatic effects 0 The Reagan years 0 Making Economic Policy Chapter 8 Tax Policy 0 The development of the Income Tax 0 The rise of tax preferences 0 The politics of tax reduction 0 The politics of tax reform Chapter 9 Energy Policy Competey free domestic market could have reallocated these costs almost immediately Markets are speedy devices for solving painful allocation problems 0 The politics of Oil226231 0 First industry interest Then consumer interest Then neutral at end of decade 0 Originally a committee of producers regulated both production and pricing of oil but the SC overturned it in 1935 o 1955 amendment passed that allowed the president to impose quotas on any article that was being imported into the US in such quantities as to threaten national securitythis means coal and oil 0 The regulation of oil prices231241 o Nixon got rid of import oil quotas because we became scare in our resources They didn t care about consumers before they just cared about producers and money 0 Presidents worry about blame so he decides to share it with congress instead of making a law that would place all blame on him if not successful Gasoline rationing241244 The regulation of natural gas244248 0 Proposed a plan everyone agreed with because no monopolistic prices but guaranteed companies a steady income because they wouldn t have to worry about competitors coming into the picture The deregulation of natural gas248 259 The politics of energy259261


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